News-Record.com

North Carolina ranks fifth in the nation for growth of businesses owned by women, according to a recent report from the Small Business Administration.

Thursday, Gov. Mike Easley touted the report in Raleigh, lauding the findings that women-owned firms in the state grew faster than they did on the national level.

Between 1997 and 2002, the number of women-owned firms nationally grew by 19.8 percent. Women-owned firms increased employment by 70,000, while firms owned by men lost 1 million employees. But most business owned by women didn't have any employees, and 79 percent of them made less than $50,000, according to "Women in Business: A Demographic Review of Women's Business Ownership."

In North Carolina, the number of women-owned firms grew by 24.3 percent during the same period, posting total sales of $26.7 million in 2002, the last year studied. The growth in women-owned business here outstripped jumps in all states except Nevada, Georgia, Florida and New York. Nevada, the frontrunner, saw a 43 percent hike in women-owned firms during the six-year period.

Sales growth at women-owned businesses was another thing entirely. North Carolina ranked 35th on that list, with a jump of just 1.3 percent in receipts from 1997 to 2002. New Hampshire, with 37.2 percent growth in receipts at firms owned by women, ranked first. A number of states posted negative growth.

North Carolina did not make the lists of statistical areas, counties and cities with the largest numbers of women-owned firms. New York and Los Angeles topped these lists.

To view the full report, hit up the SBA's Web site.